Press release
Unveiling Industry Dynamics: Explosive 5.5% CAGR Surge in Bag-on-Valve Laminates Market Fueled by Personal Care and Pharmaceutical Sectors
Bag-on-Valve Laminates Market, Bag-on-Valve Laminates
This has led to its widespread adoption in sectors such as cosmetics, pharmaceuticals, personal care, and household products. Between 2022 and 2031, the market for bag-on-valve laminates is expected to develop significantly at a CAGR of 5.4%, reaching US$ 372 Mn.
The market is also benefiting from the growing consumer awareness regarding product hygiene and convenience. Additionally, the rising focus on sustainable packaging solutions has prompted manufacturers to develop eco-friendly BoV laminates, further fueling the market growth. With continuous advancements in material technologies and packaging design, the bag-on-valve laminates market is poised for significant expansion in the coming years.
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Key Points:
*Bag-on-valve (BoV) laminates market is experiencing substantial growth.
*The market is driven by the demand for innovative packaging solutions.
*Bag-on-valve technology offers advantages such as extended product shelf life and controlled dispensing.
*It finds applications in sectors like cosmetics, pharmaceuticals, personal care, and household products.
*Increased consumer awareness about product hygiene and convenience is boosting market growth.
*Manufacturers are focusing on developing eco-friendly BoV laminates to cater to sustainability demands.
*Continuous advancements in material technologies and packaging design contribute to market expansion.
*The bag-on-valve laminates market is expected to witness significant growth in the future.
Personal care products are commonly packed in traditional aerosol packaging but with innovation, bag-on-valve packaging has emerged as a preferred solutions. The bag-on-valve packaging system consists of an aluminum or tinplate container, valve, laminate bag, actuator nozzle, and a pressurized propellant such as nitrogen gas or compressed air.
The use of inert gas such as nitrogen or compressed air as propellant makes the product safer by leaps and bounds compared to traditional aerosol packaging that use flammable hydrocarbons as propellants.
Bag-on-valve laminates have emerged as safer alternatives for packaging of a variety of personal care products and are gaining popularity among consumers of those products who are averse to flammable propellants.
Several key players are using this technology to cater to the changing demand among consumers. According to FMI, the personal care industry is expected to account for nearly 33% of sales in the market in 2021. Besides this, the demand in the healthcare sector also is expected to rise.
# Key Takeaways from Bag-on-Valve Laminates Market
*Rising demand for alternative and sustainable packaging solution will drive the bag-on-valve laminates market at 5.4% CAGR between 2022 and 2031
*Rising demand for advanced packaging solutions in America's personal care and healthcare industry will enable the U.S. to account for over 88% sales in North America in 2021
*Government regulations aimed at curbing carbon footprint across various industries will facilitate growth in the U.K. at 1.9% CAGR over the forecast period
*France, Italy, and Benelux will exhibit high demand for bag-on-valve laminates within the Europe market
*Expansion of the manufacturing sector will create growth opportunities for the market within China
"Besides adopting strategies to achieve their goals for expansion, the market players are focusing on offering greater recyclability. Steps taken towards adopting sustainable packaging solutions will aid the overall expansion of the market in the coming years," said an analyst at FMI.
# Demand for Safe Packaging of Sterilized Products to Shape Bag-on-Valve Laminates Market
Manufacturers in the pharmaceutical industry offering products such as nasal sprays and wound cleaners are favoring bag-on-valve laminates packaging, as it is easy to sterilize and a comparatively hygienic form of packaging.
The nasal spray market is anticipated to grow tremendously as it is an effective drug delivery system for the increasing number of cases of asthma, respiratory diseases, and common coughs and cold.
According to the World Health Organization (WHO), out of 93 vaccine trials that are underway, 7 are based on intranasal delivery system. The demand for packaging of these nasal sprays will potentially augment the bag-on-valve laminates sales due to their ability to keep the active ingredient comparatively safer.
# Impact of COVID-19 on Bag-on-Valve Laminates Market
The ongoing COVID-19 pandemic has affected many industries including the packaging sector. The bag-on-valve laminates market suffered in the pandemic majorly because of factors like shortage in supply of raw materials, logistics, and lockdown restrictions.
The decrease in demand from industries such as personal care and home care also negatively impacted the overall market. Nonetheless, the increasing application of bag-on-valve laminates in the healthcare industries for packaging of products like nasal sprays and sterile washes has helped in dampening the effect of the pandemic.
# Bag-on-Valve Laminates Market Landscape
Amcor plc, Aptar Group, Precision Valve Corporation are the top players operating in the bag-on-valve laminates market. Furthermore, Tunap Group, Lindal Group, Summit Packaging Systems, Gualapack S.p.A are also some of the noticeable players in the bag-on-valve laminates market. The Tier 3 players hold 65-70% in the global bag-on-valve laminates market. Key players contribute almost 30-35% of the global market.
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# Key Segments Covered in Bag-on-Valve Laminates Industry Research
Material:
Polypropylene (PP)
Oriented Polypropylene (OPP)
Cast Polypropylene (CPP)
Aluminum
Polyethylene terephthalate (PET)
Packaging Format:
Bags
Pouches
Filling Process:
Cold Fill
Aseptic Fill
Ambient Fill
Application:
Home care
Personal care
Healthcare
Others (Chemical)
Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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